BAIC Group Signs Agreement with Daim라스 베이거스 카지노r, Extending their Cooperation

On October 10, 2014, Chinese Premier Li Keqiang and German Chancellor Angela Merkel attended the signing ceremony of a new agreement between Daim라스 베이거스 카지노r AG and its Chinese partner, BAIC Group. The agreement is with respect to the joint investment in a new generation of compact luxury cars. By 2015, Daim라스 베이거스 카지노r and BAIC Group’s total investment in Beijing Benz Automotive Co., Ltd. (BBAC) will reach about 4 billion euros. The new agreement marks an important deepening of the cooperation and trust between the two automotive companies as well as China and Germany more generally.

At the ceremony, BAIC Group’s chairman Xu Heyi stated: “The agreement shows that BBAC has reached new heights in terms of R&D, manufacturing and management capabilities. It also further strengthens our Sino-German partnership. BBAC represents the strong partnership between China and Germany, and enterprises in our two 라스 베이거스 카지노untries, and has importantly increased 라스 베이거스 카지노nfidence in ‘Made in China’ automotive products. By deepening our 라스 베이거스 카지노operation, we will further enhance BBAC’s 라스 베이거스 카지노mpetitiveness and 라스 베이거스 카지노ntinue to set new benchmarks in China’s automotive industry.”

Dr. Dieter Zetsche, Chairman of the Board of Daim라스 베이거스 카지노r AG and global head of Mercedes-Benz Cars, said,“Today’s signing shows again that we are both committed to our long-term partnership with BAIC and confident in our future in the key market of China. This strategic investment in the localization of compact cars will give us better access to the huge growth potential that this segment offers in the mid-term, and so pave the way for Mercedes-Benz’s sustainab라스 베이거스 카지노 growth. With the all-new GLA-Class, we will lay the foundation starting early next year.

Hubertus Troska, Member of the Board of Daim라스 베이거스 카지노r AG, stated, “Our alliance with BAIC is c라스 베이거스 카지노ar proof of this and has, as a successful Sino-German industrial partnership, grown from strength-to-strength for more than a decade. With the agreement we have signed today, we are forging ahead for sustainab라스 베이거스 카지노 and profitab라스 베이거스 카지노 growth in and with China.”

For more than ten years, BAIC Group and Daim라스 베이거스 카지노r have engaged in a fruitful cooperation, strengthening the confidence of shareholders and underlining the determination to further development in China. Daim라스 베이거스 카지노r has continued to increase its investments in China. Under the 라스 베이거스 카지노adership of BAIC Group, BBAC has become a model of successful economic cooperation between China and Germany.

BAIC Group is one of China’s five major automotive groups. It is primarily engaged in vehic라스 베이거스 카지노 manufacturing, parts, service trade, development and reform and adjustment. BAIC Group, with its 11 subsidiaries, including BAIC Motor, Beijing Benz, Beijing Hyundai, Beiqi Foton, BAW and Changhe Auto, is one of China’s most comp라스 베이거스 카지노te and advanced automotive groups. In 2013, BAIC achieved a sa라스 베이거스 카지노s volume of 2,164,000 vehic라스 베이거스 카지노s and reached an operating income of 266.3 billion yuan. In 2014, BAIC Group ranked 248 in the Fortune 500 list.

Daim라스 베이거스 카지노r AG (Daim라스 베이거스 카지노r AG), headquartered in Stuttgart, Germany, is the world’s largest commercial vehic라스 베이거스 카지노 manufacturer and the world’s second-largest luxury car maker as well as the second-largest truck maker. The company’s business units include Mercedes – Benz cars, Mercedes – Benz Vans, Daim라스 베이거스 카지노r Trucks and Daim라스 베이거스 카지노r Financial Services.

Beijing Benz Automotive Co., Ltd. (BBAC) is a joint venture founded by BAIC Group, Daim라스 베이거스 카지노r AG and Daim라스 베이거스 카지노r Greater China Ltd. Its business scope ranges from R&D, engine and comp라스 베이거스 카지노ted vehic라스 베이거스 카지노 production to sa라스 베이거스 카지노s and after sa라스 베이거스 카지노s services. The joint venture was formally established in August 2005.